You've probably already realized that your debt to income ratio is a bit too high to be easily handled. You're looking for a way to make that more reasonable so that you can pay your monthly payments more readily and stop the phone calls from coming in.

Getting a quick debt consolidation loan can help you to cut your monthly payments quickly. Consolidating your debts can help you to lower the monthly repayments that you have to make by as much as fifty percent, if not more.

Comparison shopping for quick consolidation loans can be done from the comfort and the privacy of your own living room if you use your computer to help you compare and apply for debt consolidation loans. Usually you can find a loan that will help you lower your payments and get some type of relief for your monthly debts even if your credit is less than perfect.

Today, with the economic downturn and the multiple people who have lost their jobs, its simply too easy to be in over your head before you realize it. Getting your debt back to a manageable proportion of your income is the first step toward becoming debt free.

Quick consolidation loans to help with cutting your monthly repayments can help to alleviate some of the pressure. Here's how it works.

Each month you pay out multiple credit card payments to several companies. Each of those companies may charge you as much as 25 percent in interest. Your payments might be scattered over four or five, or even more companies.

Suppose for example that one credit card company charges you 17 percent interest on your credit card balance. If you pay off that balance by taking out a consolidation loan which is charging you only ten percent interest, you will find that the interest rate change alone will lower your monthly payments. Some credit cards charge a lot more than 17 percent interest.

If you have multiple cards who are charging you that rate, and each of them is paid off, leaving you with just one payment with an interest rate that is much less, you might end up paying about half what you are paying now in monthly re-payments.

Getting that much of a savings each month on the payments that you send out will make it far more easily accomplished to pay off what you owe and give you room to breathe and get back on your feet again.